POST-MARKET SUMMARY 22nd April 2025

On April 22, domestic markets extended their rally for the sixth consecutive session, although the gains were more modest compared to earlier bumper performances. Despite global concerns around tensions between Trump and the Federal Reserve, domestic sentiment remained strong. The RBI's decision to ease liquidity coverage ratio guidelines, expected to spur credit growth, gave a boost to the finance sector.

Leading the sectors was Realty with a 2.4% gain, followed by FMCG at 1.89%. PSU Bank rose 0.75%, Pharma increased by 0.41% and Auto added 0.3%. IT, Metal and Infra saw slight declines.

NIFTY: The index opened 60 points higher at 24,185 and made a high of 24,242 before closing at 24,167. Nifty has formed a Doji-like candlestick pattern on the daily chart. Its immediate resistance level is now placed at 24,250 while its immediate support is at 24,060.

BANK NIFTY: The index opened 110 points higher at 55,414 and closed at 55,647. Bank Nifty has formed a bullish candle with a long upper shadow on the daily chart. Its immediate resistance level is now placed around 55,850 while immediate support is around 55,400.  

Stocks in Spotlight

▪  Waaree Energies: Stock surged up to 7% following the US imposition of anti-dumping duties on Southeast Asian peers. The move comes after a probe initiated by US-based solar manufacturers, further escalating trade tensions.

▪  Rajratan Global Wire: Stock jumped close to 20% after the company revealed plans to convert its black wire capacity into wire rope production modules. New plant and machinery with an annual capacity of 10,000 tonnes have been procured to support this initiative.

▪  HDFC Bank: Stock rose 2% intraday after the Bank reported a 6.7% year-on-year rise in standalone net profit to Rs 17,616 crore for Q4 FY25, with a 5.3% sequential increase.

Global News

▪  European markets struggled on Tuesday as investors returned from the Easter break amid growing concerns over trade tensions and economic uncertainty.

▪  U.S. stocks rose more than 1% early Tuesday after the previous day's selloff, while the dollar recovered slightly, even as investors continued to assess U.S. President Donald Trump's criticism of the Federal Reserve chair.

▪  Gold soared to a new record, surpassing $3,490 per ounce on Tuesday as investors flocked to the safe haven amid rising economic uncertainty.

▪  Oil prices moved higher. U.S. crude rose 0.89% to $63.64 per barrel, while Brent rose to $66.79 per barrel, up 0.8% on the day.

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